Spencer Heath Archive

Item 622

Number of Persons Receiving

/This chart did not scan completely. The descending curve continues,

labeled, “Pioneers & Subsistence Farmers.”/

First Curve

Pioneering and subsistence farming. Almost horizontal.

2nd Curve

Small amount of specialization. Individual traders and home manufactures. Few partnerships. Very little organization of commerce and industry. Moderately sloping curve.

3rd Curve

Extensive specialization. Many partnerships. Few corporations, closely held. Much steeper curve.

4th Curve            Many large corporations. Much wider ownership. Still steeper curve.

5th Curve            Very large corporations. Very widely owned.

Less steep curve.